Escrow & Title
What is a 'standard coverage' title insurance policy and how does it differ from an ALTA policy in Idaho?
AThey are identical
BA standard coverage policy protects based on public record information only; an ALTA policy provides broader coverage including off-record risks, survey matters, and access✓ Correct
CStandard coverage is for commercial; ALTA is for residential
DStandard coverage policies are issued by the state; ALTA by private companies
Explanation
Standard coverage title insurance policies cover risks found in public records but have significant exclusions (survey matters, unrecorded easements, encroachments). ALTA (American Land Title Association) extended coverage policies provide broader protection requiring a current survey and cover additional off-record risks. Idaho title companies issue both types depending on the transaction.
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